What’s Next for Bitcoin, Ethereum and Solana Prices? BTC eyes $65k without hitting new ATHs
Analysts are seeing that Bitcoin is facing a rejection from a critical resistance zone. This movement led to a short-lived depression divergence, which led to downward pressure. Additionally, Ethereum and Solana are facing similar challenges as they struggle to maintain their upward momentum.
Despite the short-term return, there has been significant inflows into Bitcoin ETFs, particularly from major players like BlackRock. On Wednesday alone, BlackRock poured in more than $872 million, contributing to a total of nearly $900 million in Bitcoin ETF inflows. This shows strong institutional interest in Bitcoin, despite the current price challenges.
Short term bearing trends
According to Crypto World analyst Josh, Bitcoin is currently facing resistance between $72,000 and $74,000. A pullback is projected in this range, and with support levels around $66,700 to $68,300, further drops could see Bitcoin test support around $65,000.
Long term bullish view
Despite the signs of a short-term doldrums, the long-term trend is still strong. The four-day chart of Bitcoin recently confirmed a bullish reversal on the super trend indicator, suggesting a potential upside. As long as Bitcoin holds above $65,000, a bullish cup-and-hold pattern remains.
Ethereum price analysis
Ethereum (ETH) is currently trading in a sideways range, indicating a neutral position on larger time frames. ETH faced rejection at $2,700 to $2,800, this area proved to be strong resistance. Currently, support is between $2,550 and $2,580. If it breaks below, the next support area is around $2,440 to $2,475. A break below $2,440 could indicate a bearish trend, which could push prices down to $2,280 to $2,320.
Technical analysis of Solana
Solana (SOL) is also facing resistance, especially between $183 and $187, where it recently declined. SOL has support in the $159 to $163 range. A break below $159 is a bearish sign. While the larger trend remains bearish with higher lows and higher highs, bearish divergence on the RSI suggests the possibility of a short-term pullback.
